Santa Barbara County (Calif.) Employees’ Retirement System is considering searching for discretionary private equity and private real return consultants.
The $4 billion pension fund’s board will vote on issuing an RFP at its Jan. 22 meeting, materials for the meeting shows.
SBCERS investment staff is recommending issuing an RFP on March 3 with a proposal due date of 5 p.m. PDT on April 4 with finalist presentations to the board taking place on Aug. 27, according to a memo to the board from investment staff included with the meeting materials.
Hamilton Lane has been the discretionary private equity consultant for SBCERS since September 2006 and discretionary private real return consultant since August 2014. Rebecca Valdez, SBCERS investment officer, said the firm will be invited to rebid.
The SBCERS private real return allocation consists of investments in private infrastructure and private natural resources.
As of Sept. 30, the actual allocations to private equity and private real return were 12.8% and 11.5%, respectively; the respective targets are 10% and 11.25%.
The pension fund traditionally posts RFPs on its website.
